Gerrard, the UK private client investment manager, has recruited an investment team from Merrill Lynch, following Merrill's decision to close down its private client offices in the north of England.

Following the news Merrill's private client operations in Manchester, Leeds, and Edinburgh are all closing down, Gerrard recruited James Bailey, Jason Paul, Alan Dewhurst, and Pauline Smallwood from Merrill's Manchester office, in what it has described as &quota major coup&quot. The team will continue to be based in Manchester, and will report to Simon Racle, office head. Gerrard's Manchester office is currently 27-strong, and manages half a billion sterling in assets.